Audit Fee

(redirected from Audit Fees)

Audit Fee

A fee a company pays an external auditor in exchange for performing an audit. Because the Sarbanes-Oxley Act made audits more complex, audit fees have increased significantly in the United States since 2001.
References in periodicals archive ?
5 percent increase in 2013 audit fees for public companies.
Public and private companies, as well as non-profits, saw an overall increase in their audit fees in 2013 over the previous year[sup.
During fiscal 2007 results show almost no change in tax fees, audit-related fees, or other fees; the increase is almost entirely due to audit fees specifically.
How do your company's audit fees compare with those of other companies?
While companies on average this year experienced only minor increases in audit fees from the previous reporting year, they continue to face a number of challenges beyond costs.
Concentration in the audit market is linked to higher audit fees, according to a new report commissioned by BDO and conducted by the London School of Economics.
I have data only on the audit fee that a company paid to its newly engaged auditor, but I don't observe the audit fees that the company would have paid to other auditors.
In addition, the principles highlight that the external auditors are expected to charge reasonable audit fees taking into account the complexity of the activities and structure of the financial institution, among others.
These studied have focused on Impact on audit fees against fees received from the NAS (An alternative measure for auditor independence) in exchange with limiting both of them and the importance of revenue management (alternative measure for audit quality) [8].
Birmingham City Council has spent PS334,000 in audit fees following delays to its annual accounts.
In response, the PCAOB received an overwhelming negative response with many comments indicating that mandatory audit rotation will impact audit quality negatively, and lead to increased audit fees and a loss of continuity and expertise for the entities being audited.
In this study, fiscal year-end 2010 audit fees for 120 companies that practice CSR reporting utilizing the Global Reporting Initiative (GRI) guidelines are compared to audit fees for companies in the same industries that do not issue CSR reports.